Piper Sandler last night upgraded Leggett & Platt to Neutral from Underweight with a price target of $13, up from $11. While the company’s fundamentals remain challenged, Piper has increased confidence its earnings will increase year-over-year in 2025 due to a combination of cost savings and visibility for better fundamentals for Leggett’s Bedding segment, the analyst tells investors in a research note. The firm increased the stock’s target multiple to reflect increased cost take outs and the planned sale of the Aerospace business.
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